1. Field of the Invention
This invention relates to a system for receiving, processing, creating and storing for selective retrieval investment information and, more specifically, it provides a system wherein external data interface means receives and processes investment information from nonuser outside sources which is delivered to a server which receives, processes, creates investment information and starts the same in a central database, and also provides access to the server through the external user interface means.
2. Description of the Prior Art
It has long been known in connection with various types of financial and accounting transactions to make advantageous use of computerized receipt, sorting, processing and delivery on-line of information.
For example, it has been known to employ such systems in respect of the purchase and sale of investments, such as stocks, bonds and mutual funds. Such computerized systems can provide a rapid, efficient means for communications involved in such transactions and minimizing the amount of paperwork required.
It has long been known to employ general purpose digital computers and accompanying software to perform financial and accounting functions. See, generally, U.S. Pat. Nos. 4,648,037, 4,953,085, 4,994,464, 5,126,936, and 5,132,899.
It has also been known to use such data processing systems for automated processing of information relating to investments and investment accounts. See, generally, U.S. Pat. Nos. 4,346,442, 4,486,543, 4,566,066, and 5,193,056.
It has been known to employ computerized systems for monitoring investment accounts involving multiple investors and multiple investment funds. See U.S. Pat. No. 4,933,842.
In co-pending application Ser. No. 08/345,881, filed Nov. 28, 1994, which is owned by the assignee of the present application, there is disclosed a system for processing raw data, reformatting the same, storing the same for retrieval premised upon election of certain options by the user.
A system sold under the trade designation "Portia" by Thompson Financial Services employs a relational database in a central data repository and has been employed in connection with investment data processing and storing, but lacks the capabilities of the present invention and is not specifically designed for mutual fund use.
A system sold under the trade designation "CompAlert" sold by Merrin Financial Services has provided compliance monitoring, but not with the capabilities of the present invention, particularly in respect of mutual funds.
It is known that companies in the investment business must subscribe to a number of services which provide investment data. For convenience of reference, such services by computer shall be referred to herein as "nonuser outside sources." In order to employ such information in a timely fashion in effecting investment trades, portfolio analysis, investment counseling and many other purposes, such data must be assimilated into the recipient's system where appropriate processing is employed to modify existing data within the system and to provide access thereto by authorized users.
There remains a very real and substantial need for an improved system to facilitate receipt and processing of such data from nonuser outside sources while facilitating simultaneous access by a plurality of users to such data after processing and storage.